Salesforce plans $25B bond sale to fund buyback
Business
Salesforce is planning to raise up to $25 billion by selling bonds, with the cash set aside for a huge share buyback.
The company could kick off a $20 billion US bond sale as soon as this week, though timing might shift.
It's all part of Salesforce's push to reward shareholders and boost confidence.
Salesforce's record $50B buyback plan
Big banks like JPMorgan Chase, Bank of America, Barclays, Citigroup, and Wells Fargo are helping run the bond sale and talking with investors today.
Just last month, Salesforce announced a record $50 billion buyback plan and bumped its dividend by nearly 6%.
For context: back in 2021, they raised $8 billion in bonds to help buy Slack, so this move shows they're still thinking big about their future growth.